KEFI Gold and Copper PLC · LSE:KEFI
KEFI Gold and Copper — KEFI Minerals — Africa Down Under Conference 2017
13 slides from KEFI Gold and Copper's conference presentation, September 2017
Slide 1: Africa Down Under Conference September 2017
Africa Down Under Conference Disclaimer September 2017 Ethiopia Saudi Arabia Prospective Arabian‐Nubian Shield Strong partners, contractors, financiers and team 2Moz Gold in Resources, 1Moz in Reserves, Large Growth Pipeline Initial Project is Development Ready for +100,000oz pa
Slide 2: Disclaimer
Disclaimer The information contained in this document (“Presentation”) has been prepared by KEFI Minerals plc (the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers g
Slide 3: Corporate Overview, Focus and Capital Structure
Corporate Overview Focus Capital Structure Develop in 2017‐19, Produce from 2019 – 115koz pa in 1st 8 years AIM code KEFI • At $1,250/oz, DFS‐level estimated cash flow of $55M pa before 3.93p (low) Share price ‐ 12 mth debt‐service & tax , $24M pa after debt‐service & tax 11.38p (high) Share price
Slide 4: Strong Platform: Shareholders, Partners, Contractors, Financiers
Strong Platform Shareholders, Partners, Contractors, Financiers Institutions Board Public Ausdrill Lycopodium 48% 8% 39% 5% Intend to invest $2.5M upon start of contract KEFI Minerals plc contracts 40% c. 75% Al Rashid 60% Saudi JV Tulu Kapi Gold Mines c. 25% Gov’t of Ethiopia Oryx Finance SPV Bond
Slide 5: Proposed Sources and Applications of Development Funding for Project Company TKGM
Proposed Sources and Applications of Development Funding for Project Company TKGM (INCLUDING investment already made of c. $60M) $M Total funding needs before project financing structure 212 Extra funds required for project funding structure, mainly for interest during grace period 33 Total Applicat
Slide 6: KEFI positioned itself in Arabian-Nubian Shield, then acquired and overhauled Tulu Kapi
KEFI positioned itself in Arabian‐Nubian Shield, then Disclaimer acquired and overhauled the Tulu Kapi Gold Project Entered Saudi Arabia 2008, pegged large portfolio, made a discovery & applied for Mining Licence Entered Ethiopia in 2014 via Tulu Kapi acquisition, then completely overhauled the
Slide 7: Ethiopia's Ranking for Investment Attractiveness
Ethiopia’s Ranking for Investment Attractiveness Ethiopia ranked 51 of 109 countries globally in 2016 Fraser Institute Survey The table below shows Ethiopia’s ranking is better than most African countries Morocco Burkina Faso Ghana Namibia Botswana Eritrea Ivory Coast Ethiopia Madagascar Democratic
Slide 8: Ethiopia - A country on the rise
Ethiopia ‐ A country on the rise 15 years of 7‐10% GDP growth, with a HQ for African Union, provides UN pro‐development culture, peacekeepers for region World’s fastest growing economy (2015 ‐ 10.2% Real GDP growth)1 Ranks ahead of Kenya, Mali, Ethiopia is Second most populous country in Mozambique
Slide 9: Advantages of Oryx Financing
Advantages of Oryx Financing Disclaimer • Prudent structure provides much safer start‐up funding than bank debt, due to: – Longer grace period: payments by project company TKM commence 30 mths after drawdown – Longer repayment period: term of 9 years • Debt (structured as a fixed asset lease) can be
Slide 10: Undervalued compared to peer group of pre-development companies
Undervalued compared to peer group of pre‐development companies KEFI is today “FS completed” and plans to be “In Construction” in 2017 EV/M&I Gold Company EV/NPV EV/Reserve EV/All Resource EV/Prod Resource Subgroup Averages (x) ($/oz) ($/oz) (S$/oz) ($/oz) In Construction 1.19 155 100 61 159 FS comp
Slide 11: Comparison of Current Market Capitalisation with GOE Entry Price, NPVs and Cantor Peer Stats
Comparison of Current Market Capitalisation With GOE Entry Price, NPV’s and Cantor Peer Stats 200 KEFI share price from projects in current portfolio • Lowest graphed basis for valuation is current market cap 150 • Highest graphed basis for valuation equates to c. 45p price per current issued share
Slide 12: Greatest value created from discovery and triggering development
Greatest value created from Disclaimer discovery and triggering development Location of KEFI’s exploration portfolio in the ANS Ethiopia • Development‐ready at +2g/t Au open‐pit reserve of 1Moz • Underground potential below open pit +1Moz target at +5g/t Au • Target production from initial 115Koz p.
Slide 13: Contacts
Contacts Harry Anagnostaras‐Adams, Executive Chairman Wayne Nicoletto, Chief Operating Officer Cyprus ‐ Group corporate team Ethiopia ‐ Development and exploration teams Saudi Arabia ‐ Exploration team Email: info@kefi‐minerals.com Website: www.kefi‐minerals.com IFC Advisory Ltd (Financial PR) Tim M